The real estate market for the Austin area has shown consecutive growth month after month for almost 2 years now. While it could a great time for any home owner to take advantage of the rise in home values, I think that this time could be a special opportunity for people who own homes that fit the profile and budget for first-time home-buyers. Let me explain…
The huge influx of people to Austin, rising rental rates and low mortgage rates have all contributed to a seemingly ever-rising demand for homes for first-time home-buyers. That demand has caused home prices for those first-time home-buyers to rise as well, increasing the possible equity for home sellers if they chose to sell in this market. Below is a report on the active number of listings on the market in Austin, Round Rock, Cedar Park & Pflugerville for between $130,000-$180,000, a common price point for many first-time home-buyers. As you can see from the graphic, the number of home available to would-be buyers has recently increased, but is still well below the levels we saw two years ago.
If you own a home in near this price range and think your home might be a great home for a first-time home-buyer, now could be a great opportunity for you to take advantage of your increased equity and move-up to a larger home and also take advantage of the super-low interest rates yourself. If you are considering selling your home, learn how I can help you sell your home for top dollar and deliver a high net to you as well as help you find a new home to move into. Drop me a note if you are interested in finding out the value of your home.
Interested in selling your home and saving some money on commissions? Ask me about my “Move Out, Move Up” program.
The Kyle Pfaffe Real Estate Team